The textile giant Inditex enters the final stretch of its financial year, with the arrival of the autumn-winter season in most of its markets. A time in which it usually concentrates its largest volume of income and that this year occurs in an atypical exercise, in which the coronavirus crisis will slow down its evolution. But his business goes on and, this next week, one of the brands that did not yet operate a digital store will land online: Lefties.
Inditex thus takes a leap in the 'low cost' segment. It will grow online in the range of garments with more competitive prices where one of its main rivals, Primark, does not operate digitally, only with physical stores.
The Lefties online store, which will be operational in Spain from next September 3, was one of the steps that the Galician company had to take. It is a brand that, in the beginning, acted as an 'outlet' but that has been gaining identity and its own design.
However, despite Lefties gaining weight, the multinational company that owns Oysho or Massimo Dutti, does not break down the economic evolution of the brand in terms of income, as it does with the rest of the brands.
The Arteixo-based company will 'see' investors on next September 16 to reveal how the whole first semester has gone of your fiscal year. It will not have returned to normal yet, but it will have overcome the most complicated months, until now, of the pandemic and the sales season and will deepen its strategy.
Some next steps that it has already advanced that will go through the closure of part of its network of stores, in favor of larger stores and with more sales projection. Total, plans to close between 1,000 and 1,200 stores in the next two years. A network reduction plan that will not lead to layoffs, since the workforce will be relocated.
At the same time, it assumes that it will accelerate online, as reflected with the launch of the Lefties digital store. And bet on investment, since it will allocate 12,700 million to grow in the whole of the decade between 2012 and 2022. Only in the next two years will it invest 1,000 million in its digital activity with the aim that it contributes a quarter of its income.